American Express sued for misleading investors about Costco business

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NEW YORK, July 30 (Reuters) - American Express Co was sued on Thursday by a shareholder accusing the credit card company of misleading investors ahead of the announcement in February that it had lost its co-branding agreement with Costco Wholesale Corp.

The lawsuit, filed in Manhattan federal court, sought class action status on behalf American Express shareholders who suffered losses in connection with the February announcement.

The lawsuit was filed by a shareholder, Plumbers and Steamfitters Local 137 Pension Fund. (Reporting by Nate Raymond in New York)